Saudi Arabia: Most Gulf stock markets slipped on March 29, as fears of a broader Iran-linked conflict weighed on investor sentiment after Yemen’s Houthis launched their first attacks on Israel since the conflict began and the US deployed additional forces to the Middle East.

The Washington Post reported on Saturday that US officials said the Pentagon was making preparations for a potential multi-week ground operation in Iran, though it remained uncertain whether President Donald Trump would authorize the deployment of ground forces.

Saudi Arabia’s Tadawul All Share Index showed signs of resilience amid geopolitical turmoil, as it just marginally declined by 0.13 percent or 13.93 points to close at 11,076.40.

The total trading turnover of the benchmark index stood at SR3.70 billion ($986 million), with 150 of the listed stocks advancing and 107 declining.

The Kingdom’s parallel market Nomu edged up by 0.14 percent to close at 22,751.

The MSCI Tadawul Index declined by 0.46 percent to 1,489.07.

On the announcements front, Saudi Steel Pipe Co. said it signed a deal valued at SR127 million with Saudi Aramco to supply oil and gas pipes.

In a Tadawul statement, the company said the contract, which has a duration of 12 months, will have an impact on its financials in the first half of 2027.

SSP added that there are no related parties involved in the deal. The share price of SSP edged up 2.78 percent to SR42.18.

Arabian Centres Co., also known as Cenomi Centers, reported a net profit of SR1.26 billion in 2025, representing a 4.11 percent increase compared to the previous year.

In a Tadawul statement, the company attributed the rise in net profit to a decrease in cost of revenue and an increase in operating income, driven by the full and final settlement of an insurance claim, as well as gains from the sale of Al Kharj land and Sahara Plaza.

The share price of Cenomi Centers rose 0.87 percent to SR17.45.

Saudi Arabia’s East-West pipeline, which circumvents the Strait of Hormuz, is pumping oil at full capacity of 7 million barrels per day, Bloomberg News reported on Saturday, citing a person familiar with the matter.

Brent crude futures rose by $4.56, or 4.2 percent, to $112.57 a barrel on Friday, reflecting skepticism over prospects for a ceasefire in the month-old Iran war.

The best-performing stock on the main market was Saleh Abdulaziz Al Rashed and Sons Co. The company’s share price increased by 9.99 percent to SR61.10.

The share price of Bawan Co. also rose by 7.57 percent to SR50.90. Anaam International Holding Group also saw its stock price climb by 6.35 percent to SR10.89.

Conversely, the share price of Alkhaleej Training and Education Co. declined by 4.52 percent to SR16.69.

In the wider region, the Qatari index declined by 0.98 percent, while the Bahrain bourse and Boursa Kuwait dropped by 0.09 percent and 0.72 percent, respectively.

Oman’s Muscat Stock Exchange edged up by 0.77 percent.